Taxes in East Africa and beyond · Guide 148 of 624
Tax in item valuation or invoice total
On purchases, each tax row in RockifyERP can be added to the stock value, the invoice total, or both.
What you need to know
- Total: the tax is added to what you owe the supplier but not to stock value. Typical for recoverable VAT.
- Valuation: the cost is added to stock value but not the supplier’s bill. Used for costs paid to someone else.
- Valuation and Total: both. Typical for non-recoverable taxes or duties.
Tip: Recoverable VAT should almost always be Total only, so it doesn’t inflate your stock cost.
Need more help with RockifyERP?
Can’t find what you’re looking for? The RockifyERP support team can walk you through it. Contact RockifyERP support.